In AMSI scholarship recipient

Zhimin Shi

Monash university

In 2019, Zhimin Shi graduated with a double degree in actuarial science and data science. Throughout her studies, She dabbled in a variety of fields such as machine learning, econometrics, and data science. She then collaborated with two other students to develop a heart disease prototype predictor for her final year project. Moving forwards, She would like to undertake some further research. However, She would also like to use my undergraduate knowledge. As a result, She decided to pursue a postgraduate degree in financial mathematics. She has learnt how to mix my machine learning expertise with financial pricing

Can you give me a quick overview of the type of mathematics you are studying and its potential impacts for the broader community ?

My current research focuses on stochastic analysis, which entails analysing the stochastic process, finding numerical solutions for partial differential equations, and learning some fundamental probability measure theory. All of these fields are closely tied to the financial business. That information allows for a more in-depth grasp of the well-known Black-Scholes model and the logic behind how financial statistics are calculated. More efficient and appropriate financial models may arise from a mix of contemporary machine learning approaches. As a result, financial pricing can be more effective and precise.

How did you get into mathematics/statistics/data science? Was there someone or something that inspired you to this field?

As mentioned, I had actuarial science and data science for my undergrad. There is an apparent reason for studying actuarial science. I once read the news about a group of actuaries who calculated the numbers for the Powerball using knowledge of maths and statistics. I would like to be the next lucky person who wins the Powerball. So, I did actuarial science.

Nowadays, I believe most of us cannot live without computers. There are tons of information generated every day. Data science seems to be one of the natural choices after leaving high school.Moving onto my postgrad, I have browsed many areas and noticed that financial mathematics is a good combination for my undergrad knowledge. Besides, Fintech is getting more and more popular.

The purpose of Summer School is to give students an opportunity to develop their mathematical skills, meet like-minded people and network with potential employers. What was the most valuable part of the program for you? Was it the course content or the people you met? Do you have new ideas for your work/research or see it in a new light?

For me, the most valuable part could be the social network other than those excellent learning materials. You will have the chance to meet students from different backgrounds. During the four weeks of study, you could for study groups, talk to peers and gain variable insights. You also have the chance to meet professors from different universities. You could gain brief ideas about what topics people are working on within the academic. Besides, the summer school has provided career information. You will be less confused about the next steps after graduation.

AMSI Summer School was held as a virtual event. What was the biggest positive from your point of view holding it in this format and/or the biggest challenge?

The virtual event offers excellent flexibility during this pandemic period. The most apparent advantage will be that it is convenient and time-effective. It is easy to join the event anywhere at any time. The only thing you require may be your cell phone.However, virtual events have less engagement. There is no facial reaction between people. It is hard to know whether something is derived is understood by everyone.

What advice would you give to someone who is considering applying for Summer School in 2022? Should they apply and why?

To those who would like to apply for the summer school. If you have not decided, my suggestion will always be to apply for it. Do not worry about gaining credits or not, and it is an excellent opportunity to gain knowledge. You could apply for units that you may not study before. The program can give you a taste of different areas. It will significantly help you to define your path. Besides, the school also provides a variety of public events. Why not just apply for it?

Where do you want the mathematical sciences to take you? Where do you see yourself in five, ten years time?

In the next five or ten years, I have not really decided yet. I probably will finish my current study and hopefully get a job in the industry. However, I am always willing to learn more. So, I may do a PhD if I could figure out my ultimate interest.

Any other feedback/comments you would like to provide on the AMSI Scholarship or AMSI Summer School 2023?

I am grateful for the AMSI Scholarship that allowed me to attend summer school at AMSI; it has undoubtedly broadened my horizons and expanded my network. The event demonstrated that it had been meticulously organised and that it had necessitated the sacrifices of many people, for which I am grateful.